Uzbek budget executed with surplus in Jan.-March 2016

Uzbek budget executed with surplus in Jan.-March 2016

Tashkent, Uzbekistan, June 1

By Demir Azizov- Trend:

The revenues of the Uzbek state budget amounted to 8.643 trillion soums (UZS), expenses - 8.614 trillion soums, the surplus of the state budget - 29.2 billion soums in January-March 2016, says the message posted on the Uzbek finance ministry's website.

As of June 1, the official exchange rate is 2,924.63 UZS/$ 1.

According to the Uzbek State Statistics Committee, Uzbekistan's gross domestic product (GDP) increased by 7.5 percent and amounted to 35.75 trillion soums as of January - March 2016.

The state budget revenues amounted to 24.18 percent of GDP, expenditures - 24.1 percent, the budget surplus - 0.08 percent of GDP in January-March 2016.

According to the finance ministry, the revenues obtained through the direct taxes in total budget revenues amounted to 2.216 trillion soums, revenues through profit tax of the enterprises - 248.2 billion soums, revenues through income tax - 924.5 billion soums.

Some 4.332 trillion soums were obtained through indirect taxes. Some 2.413 trillion soums were obtained through VAT, while 1.233 trillion soums - through the excise tax.

The income in the amount of 1.143 trillion soums was obtained through resource payments and property tax.

Some 5.67 trillion soums were spent for the social sphere and social support of the population, 3.15 trillion soums - for education, 1.169 trillion soums - for health care in January - March 2016.

The expenditure for the economy amounted to 696.8 billion soums, the expenditure for financing of centralized investments - 507 billion soums in January - March 2016.

The state budget of Uzbekistan for 2016 was approved with a deficit of one percent of GDP, or 2.2 trillion soums. It is planned to ensure revenue part of the budget in the amount of 18.4 percent of GDP, or 40.5 trillion soums, expenditure part - 19.4 percent of GDP, or 42.7 trillion soums.

Parameters of the state budget of Uzbekistan were approved given the planned GDP growth of 7.8 percent in 2016 compared to 2015, as well as 8.2 percent growth of industrial production, 6.1 percent growth of agricultural production, a 9.6 percent increase of the capital investments' volume.

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